Fortified Cereals Market Size Worth $33 Billion By 2030: IndustryARC
Mar 05, 2024
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The Global Fortified Cereals Market size is predicted to reach $33 billion by 2030, growing at a CAGR of 11.1% during the forecast period 2024-2030 according to the latest market research report published by IndustryARC. Rise in the number of health-conscious millennials and increasing demand for organic fortified cereals are poised to propel the market growth, finds IndustryARC in its recent report, titled “Fortified Cereals Market Size, Share & Trends Analysis Report By Cereals Type (Oat-Based Cereals, Grain-Based Cereals, Nuts and Seed-Based Cereals, Others), By Nutrients Type (Vitamins, Probiotics, Minerals, Others), By Target Audience (Seniors, Adults, Children), By Distribution Channels (Online, Offline), By End-Use (Commercial, Household), By Region and Segment Forecasts, 2024–2030”
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Asia Pacific Register Highest Growth:
The Fortified Cereals industry in the Asia Pacific region is expanding due to the rising consumer awareness about the importance of a nutritious diet and increasing disposable incomes have contributed to the market's growth. Additionally, government initiatives promoting health and wellness, along with a growing urban population, have fueled the demand for fortified cereals in the region. The Asia-Pacific market offers significant growth opportunities for fortified cereal manufacturers, leading them to expand their presence and product offerings to cater to the evolving consumer preferences and dietary needs in the region.
Fortified Cereals Market 2024-2030: Scope of the Report
Report Metric | Details |
Base Year Considered | 2023 |
Forecast Period | 2024–2030 |
CAGR | 11.1% |
Market Size in 2030 | $33 billion |
Segments Covered | Cereals Type, Nutrient Type, Target Audience, Distribution Channels, End-Use and Region |
Geographies Covered | North America (U.S., Canada and Mexico), Europe (Germany, France, UK, Italy, Spain, Russia and Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia, New Zealand and Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia and Rest of South America), Rest of the World (Middle East and Africa). |
Key Market Players |
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Fortified Cereals Market Report – Key Takeaways:
Vitamins Dominate the Market
The Vitamins segment had the largest market in 2023. Consumers are increasingly aware of the vital role vitamins play in supporting overall health and well-being. Fortified cereals offer a convenient and accessible source of essential vitamins, including vitamin C, vitamin D, B-vitamins, and others. The demand for vitamin-fortified cereals has been consistently high, driven by the growing trend of health-consciousness and the desire for convenient nutrition. Manufacturers are actively incorporating a wide range of vitamins into their fortified cereal products, catering to the diverse needs and preferences of consumers seeking a well-rounded diet.
Commercial to Register Highest Growth
Commercial is analyzed to grow with the highest CAGR of during the forecast period. The increasing demand for convenient and healthy breakfast options in the food service and hospitality sectors has propelled the growth of fortified cereals in commercial establishments such as hotels, restaurants, and cafes. Additionally, the rising trend of on-the-go breakfast options and the incorporation of fortified cereals in institutional settings like schools and healthcare facilities have further boosted the demand.
North America is Leading the Market
North America region held a major market share of 41% in 2023. The region's health-conscious population and emphasis on convenience and nutrition have contributed to the market's dominance. Key factors driving the market growth in North America include increasing awareness about the importance of a balanced diet, rising preference for fortified and functional food products, and the presence of major fortified cereal manufacturers.
Burgeoning Opportunities in Digital Marketing
With the increasing prevalence of online platforms and e-commerce, digital marketing offers a powerful avenue for fortified cereal manufacturers to reach their target audience directly. Through digital marketing strategies such as social media advertising, content marketing, influencer collaborations, and targeted online campaigns, companies can effectively raise brand awareness, promote the nutritional benefits of fortified cereals, and engage with consumers. The ability to reach a wide audience, gather valuable consumer insights, and tailor marketing efforts based on data analysis presents exciting prospects for fortified cereal brands to expand their market presence and drive sales in the digital era.
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Key Opportunity Analysis:
Leveraging Social Media for Fortified Cereal Promotion
Social media has become a powerful tool for reaching and engaging with consumers, especially the younger generation. By leveraging social media platforms, fortified cereal manufacturers can raise awareness about the nutritional benefits, convenience, and taste of their products. They can also engage with consumers directly, gather feedback, and build brand loyalty. Social media provides an avenue for creative and targeted marketing campaigns, influencer collaborations, and user-generated content, which can significantly impact consumer perceptions and purchasing decisions. As a result, utilizing social media effectively can create opportunities for fortified cereal brands to expand their reach and capture a larger market share.
High Demand for Organic Fortified Cereals
The growing demand for organic fortified cereals presents significant opportunities in the fortified cereals market. As consumers increasingly prioritize organic and natural food options, the demand for organic fortified cereals has seen a notable rise. Organic fortified cereals offer the combined benefits of organic ingredients and essential nutrients, catering to health-conscious individuals seeking a clean and nutritious breakfast option. Manufacturers are capitalizing on this trend by introducing a range of organic fortified cereal products to meet consumer demands. This growing market segment allows for expansion and innovation, as companies can develop new organic formulations and capitalize on the increasing popularity of organic diets, fostering growth and profitability in the fortified cereals market.
The Emergence of Vegan Fortified Cereals
The emergence of vegan fortified cereals is creating exciting opportunities in the fortified cereals market. With the growing popularity of veganism and plant-based diets, there is a rising demand for fortified cereals that are free from animal-derived ingredients. Vegan fortified cereals are enriched with essential vitamins, minerals, and other nutrients, providing a nutritious and convenient breakfast option for vegan consumers. Manufacturers can capitalize on this trend by developing and marketing a diverse range of vegan fortified cereals, appealing to the expanding vegan market segment. By offering plant-based alternatives, companies can tap into this growing consumer base and cater to the specific dietary preferences and nutritional needs of vegan consumers.
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The Report also Covers the Following Areas:
Fortified Cereals Market Size and Forecast
Fortified Cereals Market Trends
Fortified Cereals Market Analysis by Cereals Type
Fortified Cereals Market 2024-2030: Key Highlights
CAGR of the market during the forecast period 2024-2030
Value Chain analysis of key stake holders
Detailed analysis of market drivers and opportunities during the forecast period
Fortified Cereals Market size estimation and forecast
Analysis and predictions on end users’ behavior and upcoming trends
Competitive landscape and Vendor market analysis including offerings, developments, and financials
Comprehensive analysis of challenges and constraints in the Fortified Cereals Market
Covid and Ukrainian Crisis Impact:
The COVID-19 pandemic had a profound impact on the fortified cereals market. Supply chains were disrupted, making it difficult for companies to procure the necessary ingredients for production, leading to limited availability of fortified cereals. Additionally, increased costs for ingredients and transportation added financial pressure on manufacturers.
The Ukraine crisis had a notable impact on the fortified cereals market. As a result of the crisis, prices for wheat and other grains, crucial ingredients in fortified cereal production, have risen. Additionally, the crisis has resulted in a reduced supply of these grains since Ukraine is a significant exporter of these commodities. The uncertainty stemming from the Ukraine crisis has further complicated matters for companies, making it challenging to forecast and plan for the future.
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List of Key Market Players in Fortified Cereals Market:
The Global Fortified Cereals Market is fragmented with several global and regional companies operating with expansive manufacturing capabilities and extensive distribution networks. The key companies profiled are listed below:
- Kellogg Company.
- General Mills, Inc.
- Nestlé S.A.
- PepsiCo, Inc.
- Conagra Brands, Inc.
- Quaker Oats Company
- Hain Celestial Group, Inc.
- Grupo Bimbo
- Weetabix Ltd.
- Ebro Foods, S.A.
- Freedom Foods Group
- Bob's Red Mill
- Nature's Path Foods
- Post Holdings, Inc.
- Ehrmann SE
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